Borrowers initially filed their action in the W.D.N.C. for claims under RESPA, TILA and Regulation Z and sought rescission of their loan transaction under TILA. BABC filed a motion to dismiss these claims on the grounds that they were barred by each claim’s 3 year statute of limitations. The Gilberts argued in response that a mere notice of rescission via letter to their servicer triggered the statute of limitations for a TILA rescission claim under Reg. Z. The W.D.N.C. granted Deutsche Bank’s motion to dismiss and the borrowers appealed that decision to the Fourth Circuit. BABC argued the issues to the Fourth Circuit in January 2012 and we are awaiting the ruling, which will be the Fourth Circuit’s first decision regarding TILA’s statute of limitations.